​Putin: US sanctions contradict its national interests, will backfire

Imposing sanctions on Russia and blaming it for destabilizing Ukraine contradicts US national interests, President Putin said at the BRICS summit in Brazil, emphasizing that declared support of Ukrainians should not be limited to the country’s oligarchs.

“But as for sanctions, they usually have a boomerang effect,
and without a doubt will force US-Russian relations into a
corner,” he elaborated. “This is a serious blow to our
relationship. And it undermines the long term security interests
of the US State and its people.”

Putin said that it is “regrettable” that “our
partners” have chosen to impose new sanctions, but Russia
“will not close doors to negotiations.”

“We're open to finding ways out of this situation,”
Putin said. “I really hope that common sense and the
willingness to resolve all issues through peaceful diplomatic
means will prevail.”

Boomerang effect

“The measures taken by the US administration towards Russia,
in my view, contradict the national interests of the United
States,” Putin said. “This means that, for example,
large companies wanting to work in Russia after facing certain
restrictions will lose their competitiveness compared with other
global energy companies.”

“We gave an opportunity for the largest US company to work in
the [Arctic] shelf. So what, the States does not want it to work
there?” Putin wondered. “They are hurting their biggest
energy companies. And for what? In order to, after making one
mistake, insist on making another?”

“This is, at very least, an unprofessional approach. Sooner
or later, such methods of solving international problems will
have to change, but the damages will have to be written-off as
losses for those doing it.”

Ordinary citizens must be supported, not Ukrainian oligarchs

During the Q&A session Putin once again reiterated that it
was in Russia's interest to see the end of the conflict in
Ukraine and to see that Ukraine pursues economic assistance,
including that of the International Monitory Fund (IMF). But at
the same time, the Russian president questioned, how the
allocated funds including those of Russia were being used.

“The IMF works in the following way – it does not normally
assist countries during a war,” which Putin thinks is the
“right” prerequisite for economic assistance, because
money is supposed to be used to support the social sector of the
economy.

“But they [funds] are channeled for the military campaign,
they are embezzled, half stolen, under the disguise of helping
the social sector,” Putin said. “So after the first
tranche was issued, this is what is happening.”

The aid, Putin said, was “supposed to be helping the banking
sector of the country. As far as I know, the bulk of these funds
was channeled to the private banks of Ukrainian oligarchs. Where
is this money? Where did it end up?” Putin asked.

He says that the IMF and the Ukrainian public, as well as
citizens of those states that support Kiev have the right to know
some funds have allegedly been misappropriated.

Putin also stressed that Ukraine has not used the first tranche
of the IMF funds to repay the gas debt.

“What we're seeing today [in Ukraine] is the same thing that
happened to the $3 billion loan that Ukraine received from
Russia,” Putin said. “It is not just the oligarchs and the
swindlers that should be supported, but the ordinary
people,” as he stressed that control mechanisms must be
implemented in Ukraine that will deal with fund allocation.

International law and constitution should be respected

Failure to recognize state institutions, constitution and
international law, Putin said commenting on Ukraine, “leads
to internal conflict,” hinting the US policy towards Ukraine
and unconditional support of Kiev authorities leads to more
bloodshed.

“Those who force countries to such scenarios should never
forget that the blood of the regular army soldiers, of the
resistance soldiers, of civilians will be on their hands,”
Putin said. “And the tears of mothers, widows, orphans belong
to them. And they have no right to shift the
responsibility," as he urged all parties in Ukraine to sit
at the negotiating table.